EURO Trader

EURO Trader: Today seemed like the perfect storm for Appetite to take over the market with some momentum. The SP500 rose above key resistance levels but the USDIX could not follow pushing through its major support level and bounce line. Although the market is in Appetite mode overall, it stalled before we saw any significant moves.

There will be lots of noise expected in the market today as FOMC Member Pianalto speaks followed by Fed Chairman Bernanke at 10 am ET. Because of this we closed all positions early at +4 pips and decided to sit out the market to avoid uncertain volatility. - Midnight Marv